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Why Verizon (VZ) Is Up 5.8% After Major Consumer Leadership Shake-Up And Job Cuts - And What's Next
Verizon (VZ) saw its stock rise by 5.8% following significant leadership changes in its Consumer Group and the announcement of 13,000 job cuts, alongside plans to convert 179 corporate stores to franchises. These moves are part of CEO Dan Schulman’s turnaround strategy, aiming to align consumer operations with the company’s transformation agenda. The article discusses how these organizational shifts and the recent Frontier Communications acquisition could impact Verizon’s investment narrative, emphasizing the need for successful execution to translate network strengths and cost cuts into stable revenue and cash generation.